American Express Meetings & Events (Amex M&E) has predicted a ‘new normal’ of stable and steady growth for the events industry in its 2019 Global Meetings and Events Forecast.
Global meetings activity is expected to increase alongside increases in budget allocation. Consolidation across the industry and the rise of disruptive suppliers is expected to create an environment where meeting planners feel more pressure but also have more choice.
This dynamic allows the industry to collectively tackle long-term challenges, such as live inventory for small and simple meetings, and increased opportunities for attendee engagement. Regional forecasts are also optimistic, reflecting overall industry sentiment.
Surveyed planners agreed that the General Data Protection Regulation (GDPR) is impacting the industry far beyond Europe where the regulation was developed. As emerging technologies such as virtual reality, artificial intelligence, and facial recognition transform meetings and events and create more data, compliance and privacy concerns will only grow in importance.
Issa Jouaneh, senior vice president & general manager at American Express Meetings & Events, said: “2019 will be a growth year for the meetings industry, with activity expected to increase across all meeting types and regions.
“The challenge before planners is mastering this volume, while working with the reality of expenses increasing at a higher rate than meetings budgets. Strategic meetings built around defined goals that prioritise the attendee experience and embrace technology will continue to elevate meetings as a business tool despite these challenges.”
The full report can be downloaded at: https://www.amexglobalbusinesstravel.com/meetings-events/meetings-forecast/